Greenwich, Conn. -- Private investment firm Starwood Capital Group announced that an affiliate of Starwood has completed its acquisition of a 90% majority interest in seven U.S. shopping centers from the Westfield Group.
Westfield retained a 10% minority interest in the portfolio.
Starwood also announced that it has formed a new subsidiary, Starwood Retail Partners, to be based in Chicago, to oversee the management of the newly acquired assets and has named Scott Wolstein, co-founder of DDR, as its CEO.